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Minggu, 01 April 2012

How global is good corporate governance?

by: Stephanie Maier
Published :  Ethical Investment  Research  Service, Research briefing August 2005

Overview
High profile corporate governance
scandals and increased shareholder
activism are driving better governance
practice. As governments and
regulators respond to these challenges
with the adoption or revision of new
corporate governance codes we are
seeing an emerging consensus of
accepted best practice and this trend is
likely to continue. As codes converge
and standards improve investors are
looking beyond straightforward
compliance to seek out factors that
contribute to the creation of long term
value. However, despite this promising
trend important geographical variation
in governance practices remains and as
EIRIS’ analysis shows some companies
and countries still have a long way to
go:
• Only 25% of US companies separate
the roles of chairman and CEO
compared with at least 50% for
companies in other developed
economies
• Swiss boards have the highest
percentage of independent directors
(81%) – Germany, Austria and Japan
all have less than 10%
• Only 4% of companies in Japan have
audit committees comprising a
majority of independent directors
compared to over 95% in the USA,
Canada, the Netherlands,
Luxembourg, the UK and Ireland
• Only 22% of companies in Singapore
and 25% of companies in Hong Kong
have meaningful codes of ethics . . . .... (baca_selengkapnya )

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